A hospital is an institution built around the business of saving people. And like any other businesses, it needs a good management plan to survive. Like any other businesses, it needs both an operational and strategic planning to continue doing its purpose. Both of these plans and strategies will need to have a proper and careful SWOT analysis to ensure that they are the best course of action for the hospital.
Strengths, weakness, opportunity and threat analysis or SWOT analysis is a technique in strategic planning that used to identify the above strengths, weakness, opportunity, and threats relating to the company or person that it is subject to the said analysis. A SWOT analysis is an important (probably the most important) step in the formulation of a business’ operational and strategic planning. Any organization must try to observe and examine itself before implementing or even formulating a plan. Without the SWOT, the said organization could very well be planning itself to failure.
The hospital is an institution or organization that deals in the business of saving people. As mentioned above, it is for this reason that the hospital also needs to undergo a SWOT analysis. The SWOT analysis result can be used in the hospital strategic plan. It is advised that a hospital must at least assess itself with the SWOT analysis to keep in touch with its key internal an external issues twice a year. This assessment must be realistic and objective so that the strategic plan formulated will be what is exactly needed by the organization. Understanding where the organization stands today is fundamental to accomplishing future goals.
A SWOT analysis is usually divided into four quadrants. They can be divided as the two top quadrants (the strength and weakness) are both issues or aspects found internally or within the organization which is things that the organization can usually control. Meanwhile, the two bottom quadrants (the opportunities and threats) are both found externally or outside the organization which is usually outside the control of the organization. The two left quadrants (strengths and opportunities) are both positive to the company while the two right quadrants(weakness and threats) are both negative. You may also see sample healthcare SWOT analysis.
This is usually the positive aspects and properties a company can have. Listing the strengths of the organization can help it decide how to utilize these aspects to ensure a competitive advantage. To list the strengths, ask the questions: “What are the most important strengths?” “How can we capitalize on each of them?” You may also see personal SWOT analysis templates.
Some strengths that an organization can have included:
Usually listed here are negative aspects that a company or organization can have. These are areas that need to be improved. They are listed for the purpose of letting the company know how to go about and improve their weaknesses or at least alleviate them. The weaknesses may be the absence of certain strengths or it could very well be the reverse side of them. To list the weakness, ask the questions: “Where do we need to improve?” ”What should we avoid?” You may also see employee SWOT analysis templates.
Possible weaknesses that an organization can have may be:
Opportunities are circumstances relating to the organization that it can exploit in order to gain competitive higher ground. They are considered as circumstances because these factors are outside of the organization’s control. Opportunities cannot be created and thus it is for the best of the company to position itself in a place that will give it the optimum benefits an opportunity can give. It is for this same reason as to why opportunities are included in the SWOT analysis. To list possible opportunities, ask the questions: “What significant trends can we exploit or benefit from?” ”What good opportunities can we spot?”. You may also see simple SWOT analysis.
A list of possible opportunities your hospital include:
Threats are the opposite of opportunities. They are circumstances relating outside the organization that can pose no benefit or adverse benefits. These can include things that will hinder the organization from accomplishing its goals. Every practice will have a threat and it is for this reason that threats are included in the SWOT analysis. Like an opportunity, knowing which threats are going to strike the company can help it find a position that will minimize or nullify the damage the organization is supposed to take. Some questions to ask when evaluating threats during the analysis process can include “What can be done to mitigate the incoming threats?” “Can we convert the threats into opportunities?” You may also see sample marketing SWOT analysis templates.
Possible threats include:
A SWOT analysis is just a tool. Its impact and success will only depend on how it is applied. In the end, it falls to the user of the SWOT analysis if the analysis that was done becomes a success or a failure. You may also see hospital SWOT analysis templates.
A few simple rules to follow that may help in the successful application of a SWOT analysis include:
1. Be Honest – Some pills are harder to swallow than others. As it is true to on a personal level, it is very difficult to look at the flaws of one’s organization. Even if the knowledge of the flaw is there, a lot still find it difficult to admit what it is. A lot even deny the whole existence of a company’s flaw. If one is to get a proper assessment, they must be honest, swallow their pride no matter how bitter it is and examine themselves as the first step. You may also see sample business SWOT analysis templates.
2. Be Specific – Vagueness only breeds confusion. A good SWOT analysis is clear. A good SWOT analysis should avoid gray areas, unclear descriptions or indistinct definitions. The idea here is to identify the strengths, weaknesses, opportunities, and threats, and if that SWOT can’t give a clear picture, then it is a failure of a SWOT. You may also see blank SWOT analysis templates.
3. Be Objective – Do not attack the SWOT analysis alone. Ask for help from your co-workers and colleagues. Then ask their input and compare it to your notes. You may also see personal SWOT analysis templates.
4. Be Realistic – In the same vein as being honest, being realistic in the SWOT analysis allows you to have a clear and exact picture of your company’s situation. Be down-to-earth in conducting your analysis, especially in your strengths an weakness. Do not exaggerate strengths and downplay weakness, you will just be lying to yourself if you do. You may also see project management SWOT analysis.
5. Contrast and Compare – Do not limit the SWOT analysis to your own organization. Do a SWOT analysis of your competitors too. Once done, Compare the results to your own. Compare and contrast these said results but be honest. Compare and contrast realistically and do not feel bad if the competitor is a better company, rather use that as motivation for improving. You may also see a certificate of analysis templates.
6. KISS – That is to Keep It Short and Simple. Being over analytical in your SWOT analysis can bog down the analysis part of the process. Needless complexity and over analysis will only confuse you. The SWOT analysis is a simple process, keep it that way. You may also see sample company analysis templates.
How do you do a SWOT Analysis? You do a SWOT analysis. At least here are a few steps to guide you in performing your SWOT. You may also see blank SWOT analysis templates.
A SWOT analysis can be deceptively simple. With it looking like a bunch of labeled squares huddled together into a bigger square, it is difficult to imagine that the SWOT analysis hides with it such essential and integral function. That being said, a SWOT analysis is not an end-all-be-all to your companies success. It is just a tool for one to develop strategies and plans. You may also see organizational analysis templates.
Those are more crucial parts of running an organization, hospitals included. However, to ensure that the SWOT analysis conducted for creating a plan should be done with trust in the process, diversity in the conducting group (Try not to SWOT alone) and a lot of time. Done well, the SWOT will prove its worth and not a “Significant Waste Of Time”. You may also see analysis templates.